Find fields & stores near you!
Find fields and stores
Zipcode
PbNation News
PbNation News
Community Focus
Community Focus

ReplyNews Ups
 
Thread Tools
Old 10-16-2020, 12:45 PM #1
twinings
Cereal Eater
 
twinings's Avatar
 
Join Date: Jan 2004
Location: San Antonio, TX
 has been a member for 10 years
twinings plays in the PSP
twinings plays in the APPA D4 division
Unhappy GI Sportz declares bankruptcy

Johnny Rathbun from GI Sportz had this to say:

"As many of you have probably read or heard about the Bloomberg report today regarding bankruptcy and GI Sportz. I am here to calm the waters by assuring you that this "restructuring" will not affect any of the brands or products that you get from this company. Chatter is chatter, but rest assured this management group and the company will not be skipping a beat as we navigate into paintballs future. If you have any questions you can definitely ask and we will answer the best we can during this time. More information will be coming out in the weeks but again, we are not going anywhere. Feel free to share if you feel the need."



Quote:
Paintball Empire Enters Canadian Receivership, U.S. Bankruptcy

Jeremy Hill
Bloomberg News

Oct. 16, 2020, 10:14 AM
  • G.I. Sportz and Tippmann will hand reins to receiver in Canada
  • The paintball equipment maker also files bankruptcy in U.S.

G.I. Sportz Inc. and affiliate Tippmann Sports, the paintball equipment makers, filed for bankruptcy in the U.S. after a Canadian court placed the companies in receivership.

A judge in Quebec on Thursday handed broad control of the outfit’s finances to boutique consulting firm KSV Advisory, bankruptcy court papers show. Canadian documents filed last year identify G.I. Sportz as the largest global manufacturer and distributor of paintball-related products. It’s majority owned by private equity firm Fulcrum Capital Partners.

G.I. Sportz offers a variety of paintball equipment, including ammo, protective gear and apparel, as well as the gas-powered guns...
Link to article (paywall): https://news.bloomberglaw.com/bankru...u-s-bankruptcy

Last edited by twinings : 10-16-2020 at 12:53 PM.
twinings is offline   Reply With Quote
Old Sponsored Links Remove Advertisement
Advertisement
Old 10-16-2020, 12:51 PM #2
Nordic Ninja
I am Grim Fimbul Rage
 
Nordic Ninja's Avatar
 
Join Date: Oct 2005
Location: Nordheim
 has been a member for 10 years
Wow. It’ll be interesting to see how this shakes out
__________________
20 PE Gtek 170r, Mech Frame, 14" Shaft 4
07 Proto Matrix Rail, UL Frame, 14" Un1tec, Bob Long Marq ASA, CCM collar
05 Macdev Cyborg, 14" Matchstick, Tadao M5, FBM Original Trigger, CCM Custom No-Rise
04 WGP Prostock, 14" CP Two Piece, CP Regulator, CP ASA, CP Clamping Feedneck
Nordic Ninja is offline   Reply With Quote
Old 10-16-2020, 12:55 PM #3
boy from florida
FIVEHUNDREDSIXTYONE
 
boy from florida's Avatar
 
Join Date: Jan 2012
Location: FLORIDA
boy from florida plays in the PSP
boy from florida supports Team VICIOUS
boy from florida supports Ninja Paintball
Quote:
Originally Posted by Nordic Ninja View Post
Wow. Itíll be interesting to see how this shakes out
companies will get sliced up and sold and then bought back under a new entity
boy from florida is offline   Reply With Quote
Old 10-16-2020, 01:02 PM #4
ironyusa
John - conscious paradox
 
ironyusa's Avatar
 
Join Date: Apr 2013
Location: Tyler, TX
ironyusa works for a Paintball manufacturer
Quote:
Originally Posted by boy from florida View Post
companies will get sliced up and sold and then bought back under a new entity
A repeat of the same old strategy.
__________________
"(...) the only way to speak seriously to the world today is with irony." - Umberto Eco

Frmr pntbl ngnr [/crbnspk]
ironyusa is offline   Reply With Quote
Old 10-16-2020, 01:17 PM #5
Bder1991
 
 
Bder1991's Avatar
 
Join Date: Apr 2019
I hope they don't break them up and put them back together. I'm really looking forward to GI and Empire not being synonyms. The GI sponsor network dominates here in north Texas and I'm actually excited to see what many of the older programs will switch to when GI isn't looming over the scene.
Bder1991 is offline   Reply With Quote
Old 10-16-2020, 01:29 PM #6
angelguy222
 
 
angelguy222's Avatar
 
Join Date: Feb 2004
Location: Cedar Rapids
 has been a member for 10 years
Who didn't see this coming?
__________________
$ MW ARMY $
- towlie -
angelguy222 is offline   Reply With Quote
Old 10-16-2020, 01:38 PM #7
nickcvet89
 
 
nickcvet89's Avatar
 
Join Date: Dec 2014
Location: Rahway, NJ
nickcvet89 plays in the APPA D5 division
nickcvet89 supports DLX Technology
nickcvet89 supports Ninja Paintball
What happens to the paint market? Who would take over as the major supplier?
nickcvet89 is offline   Reply With Quote
Old 10-16-2020, 01:45 PM #8
viking002
Da Sigma
 
viking002's Avatar
 
Join Date: Oct 2007
Location: Chicago
 has been a member for 10 years
 plays in the NXL
viking002 posts videos on PbNation
viking002 is an NCPA player
Are they going to supply paint for cup? Will they have bunkers on a field or will all their brand be removed?
__________________
Scrub Status
viking002 is offline   Reply With Quote
Old 10-16-2020, 01:48 PM #9
painter4life05
cixelsyd
 
painter4life05's Avatar
 
Join Date: Jun 2006
Location: A garage
 has been a member for 10 years
painter4life05 supports Cereal Killerz 2
painter4life05 donated to help Peyton Trent
painter4life05 supports Ninja Paintball
I pulled a list of all brands that are currently being sold under the GI umbrella.

GI Sportz
Empire
Spyder
Tippmann
VForce
JT
Tippmann Airsoft
__________________

PUMP OT B.Y.O.L.B.

OG Feedback 45+
painter4life05 is offline   Reply With Quote
Old 10-16-2020, 02:07 PM #10
Ford
☻♦♣b
 
Ford's Avatar
 
Join Date: Nov 2001
Location: Austin 49
Ford is a founding member
 has been a member for 10 years
I wonder how much debt Fulcrum saddled them with before declaring bankruptcy.
__________________
"Originally posted by Bronk0
Everyone put something in your sig about it...

like PORN THREAD 10/24/04: I was there.
"
Ford is offline   Reply With Quote
Old 10-16-2020, 02:12 PM #11
BMJoker
Seasonal Streetballer
 
BMJoker's Avatar
 
Join Date: Jul 2001
Annual Supporting Member
 has been a member for 10 years
BMJoker donated to help Peyton Trent
Quote:
Originally Posted by Bder1991 View Post
I hope they don't break them up and put them back together. I'm really looking forward to GI and Empire not being synonyms. The GI sponsor network dominates here in north Texas and I'm actually excited to see what many of the older programs will switch to when GI isn't looming over the scene.

GI and its predecessors have been firmly entrenched in Texas for decades. Don't expect much of a change in that. It's too important of a market.

Before GI NPS and PMI (who later merged in to Kee) were duking it out fiercely.
__________________
"All men are frauds. The only difference between them is that some admit it. I myself deny it."
BMJoker is offline   Reply With Quote
Old 10-16-2020, 02:47 PM #12
wc!
In periculo, nos jubete
 
wc!'s Avatar
 
Join Date: Nov 2004
Location: Virginia
wc! is a Supporting Member
 has been a member for 10 years
wc! donated to help Peyton Trent
wc! supports Ninja Paintball
I can't find any info on the company 'in talks' to buy the assets....Kore Outdoor Inc. Curious as to what else they do and who's in the organization.

EDIT: Looks to be these guys...
https://www.bizapedia.com/de/kore-outdoor-us-inc.html

Last edited by wc! : 10-16-2020 at 04:48 PM.
wc! is offline   Reply With Quote
Old 10-16-2020, 03:07 PM #13
viking002
Da Sigma
 
viking002's Avatar
 
Join Date: Oct 2007
Location: Chicago
 has been a member for 10 years
 plays in the NXL
viking002 posts videos on PbNation
viking002 is an NCPA player
Quote:
Originally Posted by wc! View Post
I can't find any info on the company 'in talks' to buy the assets....Kore Outdoor Inc. Curious as to what else they do and who's in the organization.
I tried looking them up too with the same results as you.
__________________
Scrub Status
viking002 is offline   Reply With Quote
Old 10-16-2020, 03:11 PM #14
painter4life05
cixelsyd
 
painter4life05's Avatar
 
Join Date: Jun 2006
Location: A garage
 has been a member for 10 years
painter4life05 supports Cereal Killerz 2
painter4life05 donated to help Peyton Trent
painter4life05 supports Ninja Paintball
I found this on twitter, seems a little suspicious a brand new company buys a paintball company 10s of millions in debt.

"Kore Outdoors
@KoreOutdoors
The KORE Initiative is a strategy to attract gear builders, designers, creatives and outfitters in the outdoor recreation industry to BC's Kootenay region.
Joined September 2020"
__________________

PUMP OT B.Y.O.L.B.

OG Feedback 45+
painter4life05 is offline   Reply With Quote
Old 10-16-2020, 03:20 PM #15
Paul77
Can't find my old account
 
Paul77's Avatar
 
Join Date: Sep 2016
Location: Canada
Annual Supporting Member
Paul77 supports DLX Technology
over and over, they kept buying an spending. what did they think would happen.

there will be no money or gear to any of the "sponsored" teams and no paint being sent to cup. this will have an effect there for sure, all movement of assets or cash will be frozen for the time being.

make a product and make it well. dont try and make everything for everyone poorly. tippman was becoming a trash company, vforce lens's sucked, no highend in the line up, for gi the starch in the paint was atrocious. spyder was basically dead, empire had no valid gear left beside the mini and axe. jt was the only thing making a comeback.
__________________
Powered by Powerhouse Regulators, DLX, Pro-Shar, Prairie Storm Paintball

All my weird random paintball parts for sale on eBay feel free to PM me offers on here.

NIB Black Grill Visor Kit, pm me
Paul77 is offline   Reply With Quote
Old 10-16-2020, 03:20 PM #16
wc!
In periculo, nos jubete
 
wc!'s Avatar
 
Join Date: Nov 2004
Location: Virginia
wc! is a Supporting Member
 has been a member for 10 years
wc! donated to help Peyton Trent
wc! supports Ninja Paintball
Quote:
Originally Posted by painter4life05 View Post
I found this on twitter, seems a little suspicious a brand new company buys a paintball company 10s of millions in debt.

"Kore Outdoors
@KoreOutdoors
The KORE Initiative is a strategy to attract gear builders, designers, creatives and outfitters in the outdoor recreation industry to BC's Kootenay region.
Joined September 2020"
https://koreoutdoors.org/

Can't be the same, can it? These guys are a nonprofit. But then again, companies complain that there's no money in Paintball....so maybe? lol.

EDIT: Looks to be these guys instead...
https://www.bizapedia.com/de/kore-outdoor-us-inc.html

Last edited by wc! : 10-16-2020 at 04:47 PM.
wc! is offline   Reply With Quote
Old 10-16-2020, 03:22 PM #17
Blackout8538
 
 
Blackout8538's Avatar
 
Join Date: Dec 2011
Location: NY
Blackout8538 has achieved Level 1 in PbNation Pursuit
Not sure why this story isn’t on the front page of this website yet. It will be interesting to see if kVS Advisory freezes the assists in the US while the negotiation with KORE continues and while they review all the financials. That would mean they would haunt all operations here in the US including paint production. Idk how since 2018 they have had 45 million in debt that’s absurd idk who’s running that damn place but they must have been charging everything...stupid move on their part. ^Also to the above KORE is mainly in Can. Primarily in BC they operate. KORE is mainly known for their outdoor ski and snowboard winter activities.https://koreoutdoors.org/
__________________
518
Blackout8538 is offline   Reply With Quote
Old 10-16-2020, 03:24 PM #18
AngelsNightmare
Wha happen?
 
AngelsNightmare's Avatar
 
Join Date: Jul 2007
Location: RI
 has been a member for 10 years
 is playing at Living Legends XI
AngelsNightmare owns a Planet Eclipse Ego
AngelsNightmare owns a Planet Eclipse Etek
AngelsNightmare supports Team VICIOUS
Quote:
Originally Posted by painter4life05 View Post
I pulled a list of all brands that are currently being sold under the GI umbrella.

GI Sportz
Empire
Spyder
Tippmann
VForce
JT
Tippmann Airsoft
I'm hoping JT gets picked up by somebody. The new resurgence of the proflex and soft goods have really taken off.
AngelsNightmare is offline   Reply With Quote
Old 10-16-2020, 03:30 PM #19
4leaf4life
WHAMMY
 
4leaf4life's Avatar
 
Join Date: Mar 2004
Location: Illinois
4leaf4life is a founding member
4leaf4life is a Professional paintball player
4leaf4life works for a Paintball manufacturer
 plays in the NXL
4leaf4life is Legendary
Quote:
Originally Posted by viking002 View Post
Are they going to supply paint for cup? Will they have bunkers on a field or will all their brand be removed?
Paint will be at Cup.

This is a restructuring. Still operating the status quo.
4leaf4life is offline   Reply With Quote
Old 10-16-2020, 03:43 PM #20
dreadmuppet
Reeks of class
 
dreadmuppet's Avatar
 
Join Date: Jul 2011
Location: Dela-where?
Annual Supporting Member
 is playing at Living Legends XI
dreadmuppet owns a Planet Eclipse - Emek
dreadmuppet owns a Planet Eclipse - Emek
dreadmuppet owns a Planet Eclipse - Emek MG100
dreadmuppet is Legendary
dreadmuppet supports Ninja Paintball
Quote:
Originally Posted by painter4life05 View Post
I found this on twitter, seems a little suspicious a brand new company buys a paintball company 10s of millions in debt.

"Kore Outdoors
@KoreOutdoors
The KORE Initiative is a strategy to attract gear builders, designers, creatives and outfitters in the outdoor recreation industry to BC's Kootenay region.
Joined September 2020"
Quote:
Originally Posted by 4leaf4life View Post

This is a restructuring. Still operating the status quo.
Bart buys everything.
__________________
NEIGHBORHOOD WATCH
REC BALL | SCENARIO TEAM | PHOTOGRAPHY | VIDEO

Instagram * NHW Paintball * Facebook

"Originally posted by Joshisanalligator: buddy, we're on the internet. just be thankful there's a central topic to this argument"

eBay FEEDBACK
dreadmuppet is offline   Reply With Quote
Old 10-16-2020, 03:57 PM #21
Paul77
Can't find my old account
 
Paul77's Avatar
 
Join Date: Sep 2016
Location: Canada
Annual Supporting Member
Paul77 supports DLX Technology
Quote:
Originally Posted by Blackout8538 View Post
Not sure why this story isn’t on the front page of this website yet. It will be interesting to see if kVS Advisory freezes the assists in the US while the negotiation with KORE continues and while they review all the financials. That would mean they would haunt all operations here in the US including paint production. Idk how since 2018 they have had 45 million in debt that’s absurd idk who’s running that damn place but they must have been charging everything...stupid move on their part. ^Also to the above KORE is mainly in Can. Primarily in BC they operate. KORE is mainly known for their outdoor ski and snowboard winter activities.https://koreoutdoors.org/
When you do **** like this

Tippmann US Holdco Inc.;G.I. Sportz Inc.;GI Sportz Direct LLC;Tippmann Sports, LLC;Mission Less Lethal LLC;Tippmann Finance LLC

You end up in a mess like this.

Quote:
Originally Posted by 4leaf4life View Post
Paint will be at Cup.

This is a restructuring. Still operating the status quo.
I don’t know about that when you’ve laid off 250ish people
__________________
Powered by Powerhouse Regulators, DLX, Pro-Shar, Prairie Storm Paintball

All my weird random paintball parts for sale on eBay feel free to PM me offers on here.

NIB Black Grill Visor Kit, pm me
Paul77 is offline   Reply With Quote
ReplyNews Ups


Paintball News Rules
  1. No Upping threads. If you have something to say, please do, but don't post in the thread just to take it to the top of the forum.
  2. Do not post "1st post", "1st", "First post" or anything similar (or with any other number) at any point in a thread, even if you post a comment too. It is really annoying and it will result in a ban.
  3. If you don't like something, say why instead of just calling it ugly, lame, gay or any other name. If it is old, simply post a link or report the post with a link to the older News thread.
  4. Please don't post links for places to buy items. That encourages stores, sponsored players and other people to do it and spam the site.
If you have questions, please post them in the Talk to Mods/Admins forum.

Thread Tools

Posting Rules
Forum Jump